Guardian Capital LP Has $89.02 Million Stock Position in Canadian Imperial Bank of Commerce $CM

Guardian Capital LP decreased its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.7% during the third quarter, HoldingsChannel.com reports. The fund owned 1,113,740 shares of the bank’s stock after selling 31,467 shares during the period. Canadian Imperial Bank of Commerce makes up 2.9% of Guardian Capital LP’s holdings, making the stock its 6th largest position. Guardian Capital LP’s holdings in Canadian Imperial Bank of Commerce were worth $89,018,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CM. Canerector Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 11,021.0% in the 3rd quarter. Canerector Inc. now owns 22,242,000 shares of the bank’s stock worth $1,776,913,000 after purchasing an additional 22,042,000 shares during the last quarter. Norges Bank acquired a new position in Canadian Imperial Bank of Commerce during the second quarter valued at approximately $730,245,000. The Manufacturers Life Insurance Company raised its position in shares of Canadian Imperial Bank of Commerce by 130.2% in the second quarter. The Manufacturers Life Insurance Company now owns 7,354,644 shares of the bank’s stock valued at $519,312,000 after purchasing an additional 4,160,060 shares during the period. Public Sector Pension Investment Board raised its position in shares of Canadian Imperial Bank of Commerce by 51.8% in the second quarter. Public Sector Pension Investment Board now owns 7,106,008 shares of the bank’s stock valued at $503,383,000 after purchasing an additional 2,425,000 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Canadian Imperial Bank of Commerce by 3.5% in the second quarter. Vanguard Group Inc. now owns 41,410,285 shares of the bank’s stock worth $2,939,385,000 after buying an additional 1,382,123 shares during the last quarter. 49.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CM. Zacks Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Raymond James Financial assumed coverage on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They issued a “market perform” rating on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, January 21st. Finally, Barclays upgraded shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce Stock Down 0.7%

Shares of CM stock opened at $99.61 on Friday. Canadian Imperial Bank of Commerce has a 12 month low of $53.62 and a 12 month high of $105.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. The firm has a market cap of $92.08 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 1.04 and a beta of 1.00. The stock has a 50 day moving average of $95.01 and a 200-day moving average of $87.26.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, February 26th. The bank reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a net margin of 15.15% and a return on equity of 15.20%. The business had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $5.53 billion. During the same quarter last year, the company posted $2.20 earnings per share. Canadian Imperial Bank of Commerce’s quarterly revenue was up 15.3% on a year-over-year basis. On average, equities analysts predict that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Friday, March 27th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 44.61%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.